Are you searching for small business opportunities in New York City, United States? Are you considering starting a business in New York City but you simply lack ideas on what business to start? If YES, then I advice you read on as this article will help solve this problem.
With a total gross state product estimated at $351.5 billion in 2010 and per capita personal income at $52,403 in 2009, New York City is one of the most business friendly-states in the united states. The state is one of the seven states in the U.S. that do not levy corporate income tax or franchise tax. (However, other business-related taxes apply, such as business and occupation tax and gross receipt tax).
New York is sometimes known as the city that never sleeps because of its fast pace of life. This city is home to big names in business like Meetup, Tumblr, Foursquare, Shutterstock etc.
Though New York City abounds with global brands, there are huge small business opportunities, too. If you live in New York City, or would love to start a business somewhere within the state, here are 10 lucrative small business opportunities in New York City that you should consider.
Top 10 Small Business Investment Opportunities in New York City
- Laundry and dry cleaning service
With work schedules becoming tighter than ever, people now hardly have time for their laundry. This explains why the demand for laundry and dry cleaning services is on the high in New York City. Starting a laundry and dry cleaning business requires minimal startup capital and no formal qualifications. And it’s easy to run from home.
- Day care services
With the worsening state of the economy comes the need for both parents to take up jobs. And due to the increasing number of divorce cases, New York City has its own fair share of single mothers who have to take up full-time jobs in order to raise enough money. In short, most mothers are now too busy to take care of their children, but are ready to pay top dollars to anyone who can handle the task for them.
- Pet care
As is the case in most parts of the United States, there are many pet owners in New York City. This leaves huge opportunities for businesses that render various pet care products and services, such as pet food stores, dog walking services, vet clinics, obedience training services, and so on. Americans take good care of their pets and spend good money on taking care of them.
The reason why restaurants thrive regardless of the state of the economy is obvious: we need to eat every day to survive. So, even if the economy is grimacing, we will still squeeze out some bucks to feed our bellies with. For smart entrepreneurs with the required capital, starting a restaurant business in New York City is one of the best business decisions to make.
- Food truck
Food trucks are becoming more popular because they are mobile and are cheaper to start than the traditional brick-and-mortar restaurants. Due to its mobility, a food truck can take food to customers’ doorsteps—an advantage that increases sales and profits.
- Senior care
With seniors now making a significant fraction of the New York City population, the demand for senior care services is on the high. From non-professional services like senior errand services to professional ones like senior medical care, there is lot of money to be made in New York City from senior care.
- Fitness center
Due the increasing awareness of the health benefits of fitness and exercise, people in New York City are now turning to fitness centers. Of course, everyone wants to live long by eliminating the risks of conditions like hypertension, obesity, diabetes, and so on. So, if you have a solid background in fitness training, you can make cool money in New York City by starting a fitness center or rendering your services as a fitness coach.
- Business consulting
If you have many years of experience with a good number of successful businesses under your belt, then you should consider selling your experience by offering consulting services to small and medium business owners who also want to succeed in their businesses. Small businesses abound in New York City, so there is a huge market to cater to.
- Online marketing
More and more businesses are becoming aware of the effectiveness of the internet as a tool for generating leads and driving sales. This explains why the demand is booming for search engine optimization specialists, copywriters, website designers, programmers, software engineers, and so on. With a solid background in any of the sub-specialties of online marketing, you can make a killing catering to small businesses in New York City.
- Livestock farming
Livestock farming is one of the most popular businesses in New York City. The huge demand for livestock products in New York City and beyond leaves huge profit opportunities for livestock farmers. If you have the required startup capital, starting a livestock farm is one of the best business decisions to make in New York City.